The Chinese government is introducing lavish subsidies for new solar installations, as it works to find ways to support local manufacturers dealing with both the U.S. ITC’s anti-dumping investigation and a harsh demand/pricing environment. The subsidies could help the government meet its aggressive 2015 renewable energy installation goal of 15 gigawatts.

Big solar companies such as LDK (NYSE:LDK), Yingli (NYSE:YGE) and Suntech (NYSE:STP) all reported enormous losses for third-quarter 2011. Plus the industry also suspects that India and Europe might begin their own probes similar to the U.S. action against China-based firms.

Here’s how solar stocks are reacting to the news:

Yingli Green Energy Holding Co. Ltd. (NYSE:YGE): YGE shares recently traded at $4.03, down $0.01, or 0.25%. They have traded in a 52-week range of $2.75 to $13.59. Volume today was 620,482 shares versus a 3-month average volume of 3,267,670 shares. The company’s trailing P/E is 3.75, while trailing earnings are $1.08 per share.

LDK Solar Co., Ltd. (NYSE:LDK): LDK shares recently traded at $4.25, up $0.01, or 0.24%. They have traded in a 52-week range of $2.55 to $14.97. Volume today was 895,439 shares versus a 3-month average volume of 2,196,000 shares. The company’s trailing P/E is 6.33, while trailing earnings are $0.67 per share.

Suntech Power Holdings Co. Ltd. (NYSE:STP): STP shares recently traded at $2.42, down $0.01, or 0.41%. They have traded in a 52-week range of $1.70 to $10.83. Volume today was 724,965 shares versus a 3-month average volume of 3,566,300 shares. The company’s trailing P/E is 31.43, while trailing earnings are $0.08 per share.

SunPower Corporation (NASDAQ:SPWRA): SPWRA shares recently traded at $N/A,. They have traded in a 52-week range of $ to $. Volume today was shares versus a 3-month average volume of shares. The company’s trailing P/E is , while trailing earnings are $ per share.

First Solar, Inc. (NASDAQ:FSLR): FSLR shares recently traded at $35.77, up $1.07, or 3.08%. They have traded in a 52-week range of $29.87 to $175.45. Volume today was 1,626,561 shares versus a 3-month average volume of 4,454,190 shares. The company’s trailing P/E is 5.87, while trailing earnings are $6.09 per share.

To contact the reporter on this story: Gina Smith at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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